Intelsat announced that it has obtained the support of key creditor constituencies on the terms of a comprehensive financial restructuring that would reduce the Company’s debt by more than half – from nearly $15 billion to $7 billion – and position the Company for long-term success.

The Company is filing a proposed Plan of Reorganization in its Chapter 11 proceedings pending before the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, accompanied by an explanatory Disclosure Statement. The Plan, which has been the subject of extensive negotiations with the Company’s creditors and resolves a multitude of complex issues among them, has the support of holders of approximately $3.8 billion of the Company’s funded debt. These supporting creditors have executed a Plan Support Agreement that binds their support for the Company’s Plan. Intelsat looks forward to continuing to engage with all stakeholders to gain additional support for its Plan across the capital structure.

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